Join Hands to Build a Smarter India: Sign in | Join now
News

RBI To Induce Overseas Borrowings in 2G Spectrum Outlook

By SiliconIndia  |   Tuesday, 27 November 2012, 03:19 Hrs
45
41
67
19
Print Email


The 2G spectrum issue actually dates back to 2008, where nine telecom companies, for a pan-India operation, were given limited airwaves and licenses for the bandwidth frequency, in the mobile phone services at around 350 million dollars. Around 122 circle-wise licenses were issued. The scam had actually involved many politicians and officials from the government in India who illegally undercharged the mobile service companies for the licenses.



Even though the exact loss is disputed, the difference in the money which was supposed to collected and the money actually collected is around 176,645 crore, as valued by the Comptroller and Auditor General of India based on 3G and BWA spectrum auction prices in 2010.



Now, in an auction earlier this month five companies have bought airwaves which is worth a total of 94 billion. The companies are required to pay by December 1, although they could pay in installments. The companies are namely- a unit of Norwegian telecommunications carrier Telenor, Vodafone Group Plc's Indian unit, Idea Cellular, Videocon Telecommunications and Bharti Airtel.



But this auction had only raised less money than what the government had actually hoped to raise. The officials felt that it would end up struggling to meet its deficit targets for this accounting year.



Experts on SiliconIndia
Zafar  Ahmad
IT Project Manager
Infogain
Prakash  Kumar
Director IT
Delta Electronics In
Aakash  Mulchandani
Sr. Engg
Qualcomm
Siddharth  Sharma
Assistant Manager
Manipal
Guruprasad  Hegde
Founder and CEO
RealGuruu
Suresh  Avantsa
Founder
hubVirt Software
Chayan  Bhattacharjee
HR-Manager
TBG
Manoj Chandraprakash Powar
Managing Partner
Fountainhead
Sign Up for DailyDose and Read the Day's Highlights
Write your comment now
 
SiliconIndia About Us   |   Contact Us   |   Help   |   Community rules   |   Advertise with us   |   Sitemap   |  
News:       Technology   |   Enterprise   |   Gadgets   |   Startups   |   Finance   |   Business   |   Career   |   Magazine  |   Newsletter   |   News archive  
Cities:        CEO   |     Startup   |   Mobile   |   CIO   |   Women   |   BI   |   HR   |   SME   |   Cloud   |   Marketing   |   QA   |   Java   |   Web Developer  
Community:      Members   |   Blogs   |   Indian Entrepreneurs   |   Gyan   |   Advice   |   Community   |   Find   |   CXO Insights  
Job Board:      Jobs   |   Freshers   |   Companies   |   HR Speak   |   Forum  
Online Courses:   Web Developer   |   Java Developer   |   CCNA Training   |   SEO   |   SAS   |   SQL Server 2005   |   J2EE
Education:   MBA   |   MCA   |   Engineering   |   Training Institute
Life:          Real Estate   |   Travel   |   Finance   |   Gadgets   |   Movie Reviews   |    Jokes  
Send your feedback and help us continue to improve SiliconIndia
© 2014 InfoConnect Web Technologies India Pvt Ltd. all rights reserved